When a good friend of mine told me last month that she was considering spending this New Year’s Eve in Iceland, I nearly laughed her right out of the room. Iceland in the wintertime? You know that’s north, not south, right? Besides, Iceland has such a high standard of living. Who has the kind of cash to travel there now given the state of our economy?
Well, maybe more of us than you’d think. Iceland’s largest bank collapsed yesterday, the last of the island nation’s three major banks to tank in recent weeks. This flurry of financial problems is bad for Icelanders, but potentially good for U.S. visitors. Earlier this year, one U.S. dollar was worth around 70 Icelandic Krona; now it trades for 100 Krona or more. Which means this island nation might actually be a splendid winter destination for budget-minded U.S. travelers.
Photo courtesy of IgoUgo member Ksu.